EquityPandit’s Outlook for ITC for the week  (Feb 19, 2018 – Feb 23, 2018) : 

ITC:

ITC closed the week on negative note losing around 1.80%.

As we have mentioned last week, that support for the stock lies in the zone of 264 to 266 from where the stock has broken out after consolidation and short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 258 to 260 where the stock has taken multiple support in the month of December-2017. During the week the stock manages to hit a low of 265 and close the week around the levels of 266.

Support for the stock lies in the zone of 264 to 266 from where the stock has broken out after consolidation and short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 258 to 260 where the stock has taken multiple support in the month of December-2017.

Minor resistance for the stock lies in the zone of 270 to 272. Resistance for the stock lies in the zone of 275 to 277 where break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 280 to 282 where long term moving averages are lying.

Broad range for the stock in coming week is seen between 258 to 260 on downside & 275 to 277 on upside.